ABC Ltd issues a $18 million IPO providing proceeds to ABC of $2.7 per share, from an offer price to the public of $3 per share. The company's legal fees, ASIC registration fees, and other administrative costs are $441,000. The company's share price increases 14 per cent on the first day.What is the underwriting cost? (in millions of dollars to the nearest three decimal places; don't use the $ sign eg 7.897)

When ABC Company went public in September 2008, the offer price was $2.36 per share and the closing price at the end of the first day was $4.86. The company issued 7 million shares. What was the loss to the company due to under-pricing? (in millions of dollars to the nearest two decimal places; don't use $ sign eg $4.5766 million is 4.58)